$116 Billion in Wasted Temporary Tax Cuts

The Obama administration is betting that an extra $8 a week in most Americans’ paychecks will boost consumer spending and help pull the U.S. out of its downturn.
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The $116 billion in tax credits for 95% of Americans will come largely through reduced tax withholding from paychecks, over two years, rather than one-time payments.

The idea: let money trickle out to consumers so it feels like a permanent income boost.